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Financial Aid

Federal Direct Consolidation Loans

If you have multiple federal student loans, you can combine them into one Direct Consolidation Loan to help manage your debt. If you consolidate, you’ll just make a single monthly payment instead of making multiple payments.

There are some potential advantages to consolidating your loans. They include:

  • Your monthly payment may be lower.
  • Your repayment period may be extended up to 30 years, depending on the amount of your consolidation loan and your other student loan debt.

But there are some possible disadvantages, too. The biggest one is that if you have a longer period to pay, you’ll pay more interest. This can significantly add to the total cost of your loan.

The interest rate on consolidation loans is fixed, so it never changes. It’s based on the weighted average of the interest rates on all of the loans you consolidate.

For More Information

To learn more about Direct Consolidation Loans, including how to apply, visit the Federal Direct Consolidation Loans Information Center or call 800-557-7392 (TDD 800-557-7395).

Check Your Aid

To check the status of your financial aid, log into the WCC Gateway, click on MyWCC, Financial Aid, and then click on Check Your Financial Aid Status.

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